Silver Eagle rationing on the horizon?
Rationing the supply of new 2014 silver American Eagle bullion coins might return if current extraordinary demand for them continues.
The Mint calls it allocation.
In response to questions from Numismatic News, the Mint said Oct. 3, “The demand we have seen for American Eagle silver bullion coins over the last two weeks has been unprecedented. We normally only see this level of demand in January when our bullion coins for that year are first offered.”
September silver Eagle sales totaled 4,140,000 and so far in October another 2,250,000 have been snapped up by Authorized Purchasers, whose many clients apparently are trying to take advantage of the low price of silver in recent days.
In comparison, the Mint sold 4,775,000 silver Eagles in January.
Grading coins? You'll need this great pocket microscope!
Such high demand at this time of year surprised the Mint.
Because the Mint will not reveal what level of silver Eagle inventory it maintains, it is not possible to know how close we might be to rationing.
What the Mint said is, “It is our long-standing policy not to discuss our inventory levels.”
The Mint added, “If this rate (of demand) continues, we will in all likelihood go on allocation as we were earlier in 2014. We will track silver demand closely and work with our suppliers and customers and adjust our production plans accordingly. However, at the current time, we are able to meet demand.”
This article was originally printed in Numismatic News Express.
>> Subscribe today
More Coin Collecting Resources:
• Kick-start your coin collection with the Fundamentals of Coin Collecting set of essential resources and tools.
• Strike it rich with this U.S. coins value pack.
• Build an impressive collection with Coin Collecting 101.
